The CEO of Jeff Bezos' Blue Origin announced in an all-hands call on Thursday company-wide layoffs of "about 10 percent" of its employees, a sweeping readjustment as it aims to cut costs and ramp up rocket launches.

The capsule, carrying 30 science payloads, landed in the desert 10 minutes after liftoff, slowed by parachutes and a final nudge from its retrorockets. Blue Origin builds and tests its rocket engines in Huntsville. Some of its engines are also used on United Launch Alliance’s Vulcan rockets.

Jeff Bezos’ space company Blue Origin told its employees Thursday it would lay off about 10% of its workforce.

Cuts will be at least in the hundreds of jobs and potentially reach one thousand or more employees, a source said. Read more at straitstimes.com.

Blue Origin has drawn unfavorable comparisons to Elon Musk’s SpaceX, which leapfrogged many startups to become the world’s most prolific rocket launcher.

In the memo to staff, Blue Origin's chief executive, Dave Limp, said the job cuts are part of a plan to trim managerial ranks and focus resources on ramping up rocket launches. Blue Origin has recently completed the first test flight of its New Glenn rocket,